Emcure Pharmaceuticals IPO Subscribed 4.98 Times on Day Two: Latest Update on Subscription and GMP
Emcure Pharmaceuticals’ initial public offering (IPO) has garnered strong investor interest, with subscriptions reaching 4.98 times the offered shares on the second bidding day. According to BSE data, the IPO received bids for 6,82,10,940 shares against the available 1,37,03,538 shares.
Key Details
Key subscription details show that non-institutional investors oversubscribed by 13.67 times, while qualified institutional buyers (QIBs) subscribed 1.00 times. Retail investors showed robust interest with a 3.43 times subscription, and the employee portion was subscribed 4.83 times.
IPO Details
Emcure Pharmaceuticals, based in Pune, is known for its global presence in pharmaceutical research, development, production, and marketing across various therapeutic areas. The IPO, priced between ₹960 to ₹1,008 per share, remains open for public subscription until July 5th.
Anchor investors, including Abu Dhabi Investment Authority, Goldman Sachs Asset Management, and others, have already invested ₹583 crore ahead of the IPO’s public opening.
The IPO structure allocates 50% to QIBs, 35% to retail investors, and 15% to non-institutional investors. Minimum bid requirements start at 14 shares, with multiples of 14 for additional bids.
The IPO comprises a fresh issue of ₹800 crore and an offer for sale (OFS) of ₹1,151 crore by existing shareholders. At the upper price band, the total issue size amounts to ₹1,952 crore.
Emcure Pharmaceuticals’ IPO is managed by Axis Capital, J.P. Morgan India, Jefferies India, and Kotak Mahindra Capital, with Link Intime India as the registrar.
Grey Market Premium (GMP)
Currently, the grey market premium (GMP) for Emcure Pharma IPO stands at +345, indicating a substantial market interest and potential listing price at ₹1,353 per share, a premium of 34.23% over the IPO price.
The GMP reflects investors’ willingness to pay above the issue price, highlighting strong market anticipation for Emcure Pharmaceuticals’ debut.
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